The government of Costa Rica issued the first business license to cultivate and process marijuana for medical purposes, according to local media reports.
Costa Rica’s Ministry of Agriculture and Livestock (MAG) issued the license to Azul Wellness S.A., The Tico Times newspaper reported.
Azul reportedly plans an 800-square-meter production and processing facility in Costa Rica’s Guanacaste province.
The firm has partnered with U.S. cannabis private equity firm Merida Capital Holdings.
MAG also has issued eight hemp-cultivation authorizations to date, according to the report.
Costa Rica legalized hemp and medical marijuana in March 2022.
President Rodrigo Chaves unveiled a draft recreational cannabis law later that year.
Information about Costa Rica’s hemp and cannabis laws is available on the MAG website. (Full Story)